Strategy Chairman Michael Saylor has renewed market attention on the company’s Bitcoin treasury plan after posting another purchase-related signal on X. The post, which read “Working Better,” was shared with a bubble chart tracking Strategy’s Bitcoin acquisitions since 2020. Saylor has used similar chart posts before the company later confirmed new Bitcoin purchases.
Strategy remains the largest publicly traded corporate holder of Bitcoin. Company data cited in the report shows that it holds 843,738 BTC at an average purchase price of $75,701 per coin. With a 1,000,000 BTC target often discussed around the company’s long-term treasury strategy, Strategy would need to acquire about 156,262 additional BTC to reach that mark.
Source: X
Bitcoin traded near $73,566 at the time of the report, below Strategy’s stated average purchase price. That means any near-term buying would likely occur below the company’s existing average cost, depending on the final execution price. Bitcoin also declined 3.65% during May, creating a lower acquisition range than earlier market levels.
Strategy Moves Toward Million-Bitcoin Target
Reaching 1,000,000 BTC would place Strategy in control of about 4.76% of Bitcoin’s fixed 21 million supply. The company is already more than 84% of the way to that level, based on its current reported holdings.
The pace of future purchases will depend on market conditions, access to capital, and shareholder support for its financing tools. Strategy has used equity, debt, and preferred stock products to raise funds for Bitcoin acquisitions. The company has also promoted a broader capital plan known as the “21/21” strategy, which seeks to raise $42 billion through $21 billion in equity and $21 billion in fixed-income or preferred share instruments over a multi-year period.
Saylor has argued that managing equity, debt, and Bitcoin together gives the company more flexibility than relying on one source of capital. In a May podcast appearance, he said it was “not unlikely” that Strategy could sell a small amount of Bitcoin before the end of 2026 if capital allocation required it. He described any possible sale as small compared with daily Bitcoin trading volume.
STRC Vote Becomes Near-Term Focus
The latest purchase signal comes days before a shareholder vote tied to Strategy’s STRC perpetual preferred stock. The company is asking shareholders to approve a change that would allow STRC dividends to be paid twice a month instead of once a month.
Strategy says the change could reduce reinvestment delays and improve liquidity, market efficiency, and price stability for STRC investors. The proposal requires approval from holders representing at least 50% of about 85 million STRC shares outstanding as of April 17, 2026.
The voting deadline is set ahead of the June 7 annual meeting. Strategy has used public posts and internal communications to encourage shareholders to vote. Chief Executive Phong Le also released a video explaining the proposed amendment and thanking STRC holders for their support.
Retail investor participation may play a central role in the result. Research cited in the report showed that retail shareholders voted only about 29% of their owned shares during the past five proxy voting seasons, compared with about 77% for institutional holders.
Funding Path Depends on Market Conditions
Strategy’s ability to reach 1,000,000 BTC may depend on how long its capital-raising structure remains available at favorable terms. A central part of the company’s approach is its ability to issue shares or preferred instruments while its stock trades at a premium to the value of its Bitcoin holdings.
That premium allows the company to raise capital and buy Bitcoin in a way that can increase Bitcoin exposure per share. However, a weaker Bitcoin price or a lower market premium could limit the size and timing of future purchases.
STRC also adds dividend obligations. If cash reserves tighten, some market observers have said Strategy could consider limited Bitcoin sales to meet payments or manage capital needs. Such a move would not necessarily end the company’s Bitcoin strategy, but it would affect market expectations around uninterrupted accumulation.